Gender inequality and the gender pay gap are not only moral and social issues, but they also present an economic challenge. Women account for half the world’s population of working-age adults, but they are not currently achieving their full economic potential. If this trend continues, the global economy could suffer.
In fact, according to a 2015 report by the McKinsey Global Institute (MGI), advancing women’s economic parity can add $12 trillion in growth to the global economy by 2025. That’s an 11 percent increase. These results would come from what MGI calls a “best in region” scenario. That would mean every country in a particular region–say the Caribbean or Central America–would improve women’s economic parity with men to match the rate of the fastest improving country in their region.